Crown Holdings, Inc. Announces Final Results of Concurrent Tender Offers for Certain Series of Outstanding Notes Maturing Prior to 2006

PHILADELPHIA, March 8 /PRNewswire-FirstCall/ -- Crown Holdings, Inc. (NYSE: CCK), today announced the final results of the concurrent cash tender offers by two of its wholly owned subsidiaries, Crown Cork & Seal Company, Inc. ("Crown Cork") and Crown Cork & Seal Finance S.A. ("Crown Finance"), for certain of their respective outstanding unsecured notes. Each offer commenced on February 5, 2004 and expired at 5:00 p.m., New York City time (11:00 p.m., Luxembourg time), on Friday, March 5, 2004.

Crown Cork has accepted for purchase and payment, pursuant to its offer to purchase, all of the $20,959,000 aggregate principal amount of its outstanding 8-3/8% Notes due January 15, 2005 (the "2005 Notes") validly tendered in the offer for a purchase price of $1,045 per $1,000 principal amount. Crown Finance has accepted for purchase and payment, pursuant to its offer to purchase, all of the euro 85,312,000 aggregate principal amount of its outstanding 6.00% Notes due December 6, 2004 (the "2004 Notes") validly tendered in the Offer for a purchase price of euro 1,030 per euro 1,000 principal amount.

Payment of the aggregate purchase price, including accrued interest through March 9, 2004, is expected to be made on March 10, 2004. Following the completion of the offers, there will be $39,656,000 aggregate principal amount of 2005 Notes outstanding and euro 21,973,000 aggregate principal amount of 2004 Notes outstanding.

The Bank of New York is the Information Agent and Depositary for the offers.

Cautionary Note

Except for historical information, all other information in this press release consists of forward-looking statements. These forward-looking statements involve a number of risks, uncertainties and other factors that may cause actual results to be materially different from those expressed or implied in the forward-looking statements. Important factors that could cause the statements made in this press release to differ are discussed under the caption "Forward-Looking Statements" in the Company's Form 10-K Annual Report for the year ended December 31, 2002 and in subsequent filings made prior to or after the date hereof. The Company does not intend to review or revise any particular forward-looking statement in light of future events.

Crown Holdings, Inc., through its affiliated companies, is a leading supplier of packaging products to consumer marketing companies around the world. World headquarters are located in Philadelphia, Pennsylvania.

SOURCE Crown Holdings, Inc.